India inks $35 million loan agreement with World Bank for Madhya Pradesh project

India has signed loan agreement of $35 million with the World Bank(WB) for Madhya Pradesh (MP) citizen access to responsive services project. The loan has been sanctioned by World Bank’s concessionary lending arm International Development Association (IDA).
Key facts:

• The project size is $50 dollars, of which $35 million will be financed by the World Bank and the remaining amount will be funded out of State Budget.


• The objective of the project is to improve access and quality of public services in the state through implementation of the Public Service Delivery Guarantee Act, 2010.


• It is expected to deliver key results in terms of improving access to services or citizen outreach, performance management, simplification of govt.


• services & strengthening the capacity of implementing agencies. The duration of the project is Five years.

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India inks $35 million loan agreement with World Bank for Madhya Pradesh project

Agreement on the Cessation of Hostilities in Syria to come into effect on 27 February

US – Russia announced to have reached an Agreement on Cessation of Hostilities in Syria that will come into effect on 27th February 2016.

The announcement was made by United State Secretary of State John Kerry & Russian Foreign Minister Sergey Lavrov as co-chairs of the International Syria Support Group Ceasefire Taskforce.

The agreement said that the group would work to “develop procedures” to ensure those abiding by the deal are not attacked by Russian armed forces or a United State-led coalition both of which are carrying out air strikes in the country.

It also said that the truce did not include so-called Islamic State in Iraq & Syria (ISIS) and the al-Qaeda-linked Nusra Front. Thus, the air strikes by Syria, Russia and the US-led coalition against ISIS, Nusra & other terrorist organisations designated by the UN would continue.

The agreement was welcomed by the UN Secretary General Ban Ki-moon who said that, if respected, the agreement would constitute a significant step forward in the implementation of Security Council Resolution 2254 (2015).

The Resolution 2254 gave the UN an enhanced role in shepherding the opposing sides to talks for a political transition, endorsing a timetable for a ceasefire, a new constitution and elections.

So far more than 2 lakhs 50 thousands Syrians have been killed in the conflict which began in March 2011.

Meanwhile, Syria’s government led by President Bashar al-Assad has called for a parliamentary election on 13 April 2016. Assad issued a decree, which included seat allocations for each of the provinces in Syria, which last held parliamentary elections in May 2012.

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Agreement on the Cessation of Hostilities in Syria to come into effect on 27 February

All 12 nations sign historic Trans Pacific Partnership Agreement

All 12 Pacific Rim countries has signed Trans Pacific Partnership agreement in Auckland, New Zealand making it one of the biggest trade deals in history.
These all 12 countries are:

Singapore, Malaysia, Vietnam, Brunei Darussalam, Japan, Canada, United States, Mexico, Peru, Chile, Australia & New Zealand. TPP is Free Trade Area and these member countries across the Pacific Rim are home to 800 million people and account for 40 percent of global trade.
About Trans Pacific Partnership Agreement Objectives of TPP:

(i) Lower trade barriers such as tariffs.

(ii) Establish a common framework for intellectual property

(iii) Enforce standards for labour law and environmental law.

(iv) Establish an investor-state dispute settlement mechanism.

The agreement aims to liberalize trade in nearly all goods and services by eliminating tariff and non tariff barriers. This will lead to creation of a unified market like in European Union which will help different countries in different manner. Platform for regional integration: It seeks to serve as a common platform for the regional economic integration.
Inclusive trade:

It seeks to create favourable inclusive trade environment so that every member can benefit from trade.
Addressing new trade challenges:

It seeks to promote innovation, competitiveness and productivity by addressing new issues in global trade such as of intellectual property rights, digital economy, ecommerce etc.
Comprehensive market access:

It involves reduction or complete elimination of tariff and non tariff barriers in a list of goods, services and investments.
Regional approach to commitments:

Facilities seamless integration of economies of members facilitating:

Opening markets, cross border trade & development of production & supply chains.

Comment The Trans Pacific Partnership Agreement is considered as US led initiative, part of its so called “Asia Pivot” or Rebalance doctrine to rebalance its relationships vis-à-vis Asian state actors and a restructuring of priorities for its foreign policy establishment.

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All 12 nations sign historic Trans Pacific Partnership Agreement

India, ADB ink $80 Million Loan Agreement to Improve Urban Services in Agartala & Aizwal

Union Government and Asian Development Bank (ADB) have signed $80million loan agreement to improve urban services in two North Eastern cities Agartala & Aizwal. This loan agreement is the 3rd tranche of a $200 million financing facility of ADB under its North Eastern Region Capital cities Development Investment Program.
Key facts:

The loan funds will be used for investments in water supply, sanitation and solid waste management in Agartala & Aizwal. It will support urban reforms as well as strengthen the institutional, managerial, and financial capacity of service institutions benefiting nearly a million people in the two cities. ADB’s 3rd tranche loan is in the form of ordinary capital resources of 20 year term. Union Ministry of Urban Development is nodal agency for implementing the tranche Three activities and overall program associated with that will have June 2019 deadline. Under NERCDI, the previous program tranches have provided assistance to 5 other cities in the Northeast. They are Aizawl (Mizoram), Shillong (Meghalaya), Gangtok (Sikkim), Kohima (Nagaland) & Agartala (Tripura).

About Asian Development Bank (ADB):
ADB is based in Manila, Philippines.
Established:
Members: It is owned by 67 members – 48 from the region including India. It is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration.

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India, ADB ink $80 Million Loan Agreement to Improve Urban Services in Agartala & Aizwal

Birla Corporation signed an agreement with French-based Lafarge Group

Birla Corporation signed an agreement with French-based Lafarge Group to acquire its Jojobera unit in Jharhkand(Ranchi) and Sonadih in Chattisgarh for a sum of FIve thousand crore rupees on 17 August 2015.

Transaction will be funded through the existing cash reserves and the incremental debt and is subject to approvals, including clearance from the Competition Commission of India (CCI).

Birla Corporation will acquire these cement units along its brands Concreto and (PSC) and also its management team. These 2 plants have total cement capacity of 5.15 million tonnes per annum mtpa and have adequate reserves of limestone.

The Lafarge disinvested from these Two units in order to fulfil the directions given by the Competition Commission of India (CCI) as a part to conclude its mega global merger with Swiss-based Holcim Ltd. and its operations in Indian In July 2015.

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Birla Corporation signed an agreement with French-based Lafarge Group

Agreement between India and Afghanistan signing approved by the union cabinet

Union Cabinet approved signing of the agreement on 26 Aug. 2015. The agreement  between India and Afghanistan on the legal and judicial co-operation in civil and the commercial matters for the service of summons, judicial documents, commissions, execution of judgements and arbitral awards.

Highlights of the Agreement between India and  Afghanistan:

• Service of the judicial orders, summons and the other legal,judicial documents or processes.

• Execution of judgments, settlements and arbitral awards.

• The agreement also applies to any request for legal assistance relating to civil and commercial matters submitted before or after its entry into the force.

• It states that service of summons and other judicial documents shall not be refused on the ground that request does not show the sufficient grounds supporting merits of the case.

• The agreement also deals with taking of evidence by Diplomatic and the Consular representatives from nationals of the country they represent, without compulsion.In order to help in completion of the judicial proceedings commenced in courts of the country they represent.

The agreement will come into the force on 30th day. After the exchange of the instrument of Ratification. It shall remain in force until terminated by the either party by giving 6 months notice. The provisions of the agreement are in conformity with provisions of the Code of Civil Procedure.1908 and the Arbitration and Cancellation Act, 1996.

This agreement will be beneficial for the citizens of both nation. It will also fulfill the desire of both countries to strengthen the bonds of friendship and fruitful co-operation in the judicial and legal spheres, which is the spirit, essence and language of the preamble of the agreement.

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Agreement between India and Afghanistan signing approved by the union cabinet